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We all remember the Penny Farthing bikes, right? They featured one oversized wheel and no pedals. Whether you saw it in an old British flick or in a book, we never thought that the style would make a comeback. We were wrong. YikeBike, a small company across the pond, is aiming resurrect the Penny Farthing bicycle.

Once you get past its odd look and the slight discomfort of the seat, you may actually fall in love with one of these. There's certainly some good to like about the YikeBike. It’s sleek, slim, and when folded up is about the size of a suitcase. Furthermore, for those that travel into the city by bus or train, you can use a TikeBike once you leave public transportation to get to your destination. All that said, there are a few things we definitely don't like about this thing. The YikeBike is an electric-powered bicycle which uses break regeneration to slow itself down when you let off the gas. So you can never completely come to a stop, unless you bail out. The price of the YikeBike may also leave you screaming, as it's priced at $3,800 for the carbon fiber model, and $2,000 for the aluminum version.

Translogic's Bradley Hasemeyer skimmed across the pond to try the YikeBike for himself, check out his test ride after the jump!

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Altitude’s Alex Tee and Evan Gant created a prototype of LightLane for a design competition to promote bicycle commuting. Their thought was that the bike lane should adapt to the cyclist as opposed to visa versa. The reaction was so positive that, although it did not win, it is becoming a reality nonetheless. The device attaches to the back of the bike and has both bright red LEDs and DPSS green lasers. It comes with a universal attachment bracket and phone charger.

Help out the little guy and help save the planet at the same time. A couple of German engineers got together to develop the Elmoto, an electric bicycle powered by a 2KW engine. The bike can go for 40 miles on a single lithium-ion battery charge that will only cost about seventy cents. Weighing only 45kg, the aluminum framed vehicle retails for $5,700.00. Because the Elmoto was made with no outside help or funding, the developers are trying to sell 100 globally by the end of this year and mass produce in 2010.

Want to save some energy while making the commute to work? The GoCycle is a possible alternative. The electric bike weighs a mere 16.2kg and can go for about 20 miles before it needs recharging. That will take you only about 3 ½ hours. The GoCycle has a super suspension system for literally saving your bottom, 3 gears and a sealed-for-life chain. Leave those other commuters in your dust for £1,158 (~$1,765.00.)

For safety’s sake, bicycles and headphones don’t mix. The biggest problem with that is that a long bike ride can be marred by a lack of musical accompaniment! Luckily for you distance trekkers, 2-wheeled commuters and leisurely weekend riders, Podio has you covered. It’s a 2 GB MP3 player with an integrated speaker and an included handlebar bracket. Weighing in at a teeny 5 ounces, the Podio can easily be tossed in a pocket or worn around your neck for a walk, and with the built in headphone jack you’re not even limited to using the speaker.

We are so pleased that Sanyo has produced the eneloop bike. The electric hybrid vehicle has a power-up mode assist ratio of 1:2, a 25.2V 5.7Ah loop self-charge function that works while it is being ridden, and a 2-wheel drive system. A part of their “Think GAIA” series, energy is generated by the rider to recharge the auxiliary battery while conserving from the main battery. The bicycle features a cruising range of 100km in auto-mode. The eneloop bike will be available in Japan in February in 4 different colors for ¥136,290 (~$1,461.00)

Now that you are cycling your way to work, why not reward yourself with all the money you saved on fuel by treating your iPod nano to an iBikeConsole Duo? The waterproof device will not only play your tunes, it has wireless control on the grips with glove-friendly keys and a 3.5mm stereo speaker/headphone jack. Push the mode button and the gadget will keep track of your speed, trip length, and total distance. At a size of 117 x 62 x 26mm and a weight of .5 kg, the basic Duo is available for $76.00 but is customizable for those who take biking very seriously.

The Speed-Vest is considered by its designers mykle Systems Lab as a cycling “safety device and advocacy tool.” It displays the user’s current speed in bright lights for about 6 hours with a AA battery. The clothing recently won a local contest in Minneapolis. We see a couple of things wrong here, no offense. First off, how distracting would that be to drivers behind? And second, it wouldn’t do much good if the cyclist didn’t know how fast he/she was going. We think this traveling sign needs a bit more work before hitting major markets.

If you can dock your iPodin a bed or even a George Foreman grill, why not on your bicycle? We bring you the iHome2Go, a water-resistant iPod speaker and remote control, both of which mount onto your bike so you can listen to your tunes on the road. Leaving your bicycle home? You can still take the iHome2Go with you, as it’s also a standalone iPod speaker. Ever versatile, it can also charge your little buddy when used with the include AC adapter. Works only with dockable iPods. The iHome2Go is “coming soon” according to the company website, for $100 USD.